Customer small business financing solutions delivered through a single, online application.
Free access to multiple funding solutions
See funding solutions from 75+ nationwide lenders with a single application.
Innovative dashboard, business insights and custom invoicing - all through your Lendio account.
Explore Lendio's software solutions
Free, Simple small business accounting software
Simple tools to send invoices, track expenses and manage your business finances.
Apply for financing, use free bookkeeping tools, send invoices, and more with a single Lendio account.
Depending on your credit score, it can be a breeze to be approved for credit cards, either personally or for your small business. However, you should know some details about how they work before racking up a balance.
The most common type of credit card—an unsecured credit card—is one you can start using without putting up any sort of security.
To the average consumer, the idea of an “unsecured credit card” sounds like a negative. However, this nomenclature has nothing to do with cybersecurity or safety. An unsecured credit card is a credit card where the lender does not require the borrower to secure the debt with collateral. Unlike many other forms of loans, you do not need to offer collateral, like a security deposit, house, or car, before receiving funds with an unsecured credit card.
Secured credit cards exist but are not as common. With a secured credit card, you put up a security deposit as collateral before receiving the card. Secured credit cards are sometimes offered to people with limited or poor credit.
To get an unsecured credit card, you must apply through a bank, credit union, credit card company, or another lender. Based on your credit history, the lender will decide on your approval status and your annual percentage rate, or APR, which is your interest rate for the year.
Once you receive and activate your card, you’re ready to go. If you don’t pay your credit card balance down during every billing cycle, an interest charge based on your outstanding balance will be added to your balance every cycle.
Because you don’t back an unsecured credit card with any collateral, the interest rates are usually higher than most other types of loans or lines of credit. The APR on unsecured credit cards is around 14.6% on average, and you’ll commonly see rates above 20%.
Our goal is to help small business owners have all the
tools and knowledge possible about loans. We've connected
to hundreds of banks to keep you up to date with the best
loan offers and options for your business!
Mon–Fri | 7:30am–5pm MST
Terms & Agreements
Find a Local Representative
How It Works
Small Business Loans
Building Business Credit
Copyright © 2022 Lendio. All Rights Reserved. | 4100 Chapel Ridge Road, Suite 500, Lehi, UT 84043
California loans made pursuant to the California Financing Law, Division 9 (commencing with Section 22000) of the Finance Code. All such loans made through Lendio Partners, LLC, a wholly-owned subsidiary of Lendio, Inc. and a licensed finance lender/broker, California Financing Law License No. 60DBO-44694.